Fuel price goes up with start of new fiscal year

The PML-N-led coalition government began the new fiscal year (2024-25) with an increase in petrol and high-speed diesel prices by Rs7.45 and Rs9.56 per litre, respectively, for the next fortnight. In a late-night announcement, the Ministry of Finance said prices of petroleum products have seen an increasing trend in the international market during the last fortnight. The Oil and Gas Regulatory Authority (Ogra) has worked out consumer prices based on the price variations in the global market. The tax and duty rates on petroleum products will remain unchanged. The new ex-depot petrol price for the July 1 to 15 period will be Rs265.61 per litre compared to Rs258.16 in the previous fortnight, up by 2.9pc (Rs7.45 per litre).